Right before we break for lunch, we finished up one more online stock trading service. Star Reviews checked out ShareBuilder Online Stock Trading to find out what they had to offer. We loved their classic, yet professional site feel and immediately loved their intro slogan, ‘There’s an investor in everyone. Even you.’ How encouraging for those of us who are foreign to the field of finance! See what else we found below.
What's New with Sharebuilder?
- Three different pricing programs to choose from.
- Access to comprehensive research tools.
- Get 1% cash back with the ShareBuilder Rewards Visa.
StarReviews' Favorite Sharebuilder Feature:
Purchase partial stocks - Even if you only have $50 to play with, but
you'd like to invest in a stock that costs $80 per share, you can invest
what you have now and invest more later on. How convenient!
About ShareBuilder:
ShareBuilder got its start in 1996, going by the name of Netstock. They are committed to making online stock trading affordable for everyone. The company takes a long-term investment approach and allows customers to purchase as much or as little stock as they can afford. By helping investors build a diversified portfolio with minimal investment and dollar-cost averaging, ShareBuilder is a great way for new investors to get their feet wet in the online stock trading arena. They eliminated account minimums, reduced commissions, and removed account maintenance fees to allow anyone interested in investment to use their service.
Navigating the ShareBuilder Website:
We truly applaud ShareBuilder on keeping their website simple and user-friendly. It is surprisingly easy to navigate, without a whole lot of frills. Researching stocks and finding information on opening an account took us very little time at all.
The layout is intuitive and the even the most novice of stock traders should feel comfortable at the ShareBuilder website. Useful tabs like ‘Accounts,’ ‘Trade,’ and ‘Quotes & Research’ are clearly displayed on the main site toolbar. There is a handy-dandy search box, which produces extensive results.
Getting Started with ShareBuilder:
We definitely wanted to open an account with ShareBuilder and clicked on the bright yellow tab at center page. The total application process took us only about 15 minutes, which is comparable to the time it takes on their competitors’ sites. The pages loaded fairly quickly, which we impatient reviewers always enjoy! The application boxes were very straightforward and a breeze to get through. There are Help links along the way, in case you get stuck. Once your application is complete, you can select your pricing option and features and get investing!
The ShareBuilder Process:
When you want to take part in online stock trading, ShareBuilder makes the process completely painless. If you are a beginner and don’t want a lot of frills, you can sign up for the Automatic Investment plan, which lets you buy partial shares of stocks to accumulate interest over an extended period of time.
Like daily brokerage action? During market hours, you can use real-time tools to buy and sell stocks. We were a little disappointed that ShareBuilder didn’t provide online demos of their stock trading program like some of the other sites we checked out. However, there were a few images of what you can expect and all looked very basic and user-friendly. There is a Quick Quote box if you have the urge to find out how your stocks are faring.
ShareBuilder Online Trading Features:
- Automatic investing.
- Free investment advice.
- Margin accounts available.
- No Minimum Deposit Required
- IRA options available
- Online Banking Available
ShareBuilder Stock Trading Fees:
- For basic accounts there is no monthly fee. Real time trades are $9.95 per market order and automatic investments are $4 per investment.
- Standard accounts are $12 per month. Real time trades are $9.95 per market order. You get 6 free automatic investments with each additional automatic investment costing $2 per investment.
- Advantage accounts are $20 per month. Real time trades are $9.95 per market order. You get 20 free automatic investments with each additional automatic investment costing $1 per investment.
ShareBuilder Special Incentives:
- Save 30% by pre-paying for a one-year basic ShareBuilder account for just $99.
ShareBuilder Customer Support:
There are numerous customer support options available for you here. ShareBuilder offers customer support via an online FAQ database, a toll free phone number and online email request. When we filled out the email support form, we were first presented with a page that contained information that ShareBuilder Online Trading may have previously answered. We were then presented with the option of continuing our support or accepting the information provided.
The information automatically provided by ShareBuilder didn't really address the question we had asked, so we continued to submit our request to ShareBuilder’s customer support. We received a response within 2 business days, however, the answer we received really didn't address our question as well as we had expected, with a borderline ‘canned’ feel to it.
When we called ShareBuilder customer support, we were able to speak with a representative quickly and with little hold time. While we did elicit a response to our inquiry, it took a while for the representative to understand exactly what it was we needed.
Upside:
Great tools for beginners, easy-to-navigate website.
Downside:
Fees may outweigh the benefits for those with very little money to invest.